MIRA INFORM REPORT
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Report Date : |
11th May, 2006. |
IDENTIFICATION DETAILS
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Name : |
JAIPUR
POLO COMPANY |
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Registered Office : |
E28,
Connaught Place, New Delhi 110001, India |
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Country: |
India |
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Financials (as on) |
31.03.2006 |
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Date of Incorporation : |
1992 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
DELJ02272E |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturers
of Polo Breeches |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 150000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Partners are
reported as experienced, respectable and having substantial means of their
own. Their trade relations are reported as fair. Payments are correct and as
per commitments. The
concern can be considered good for any normal business dealings at usual
trade terms and conditions. This
report is based on an interview with Ms. Mary Anthony (Cell No.
91-9810038341) of the concern. |
LOCATIONS
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Registered Office : |
E28,
Connaught Place, New Delhi 110001, India |
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Tel. No.: |
91-120-2553794 |
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Fax No.: |
91-120-2555180 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
C-100,
Sector-2, Noida-201 301, Uttar Pradesh |
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Tel. No.: |
91-120-2530172/
2553794 |
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Fax No.: |
91-120-2555180 |
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Factory 1: |
C-100,
Sector-2, Noida-201 301, Uttar Pradesh |
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Tel. No.: |
91-120-2530172/
2553794 |
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Fax No.: |
91-120-2555180 |
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Factory 2: |
A
– 29,Sector 59, Noida, Uttar Pradesh |
PARTNERS
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Name : |
Mr.
Varun Sharma |
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Designation : |
Partner |
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Age: |
47
Years |
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Qualification : |
Post
Graduate |
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Experience : |
26
Years |
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Name : |
Mrs.
Tokyo Sharma |
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Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Polo Breeches |
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Products : |
Product
Range includes:- Ø
Breeches and Jodhpurs
– Country, Professional, Competition, Diana, Classic, Chinos, Comfort,
Schoolers, Show Circuit and Patrol |
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Brand Names : |
Sigma,
Cotton Naturals, Tuffrider, Jaipur Polo Company and Platinum. |
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Exports to : |
Europe
and USA |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
240 |
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Bankers : |
Ø
ICICI Bank Limited,
Noida, Uttar Pradesh Ø
ICICI Bank Limited,
Connaught Place, New Delhi 110001 Ø
ICICI Bank Limited,
Mayur Vihar, Delhi |
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Facilities : |
The
concern is reported to enjoy substantial facilities from its bankers. |
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Banking Relations : |
Good |
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Affiliates: |
Ø
Connaught Services
Private Limited, India Ø
JPC Equestrian Inc 72, Hillside Drive, Drums, PA 18222, USA Tel No. 91-866-2733243 Fax: 91-570-7085729 |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
Rs.
40.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.
40.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
120.000 |
130.000 |
150.000 |
LOCAL AGENCY FURTHER INFORMATION
Web details are attached herewith:-
In 1992 an
enthusiastic horseman decided to do something about expensive synthetic
equestrian clothing which damaged not just the pocket but the skin and
environment as well. The time, he realised, was right for apparel which was
comfortable, durable, affordable and stylish and made ecological sense.
This idea led to JPC — the one stop name for quality riding wear at affordable
prices. Today, JPC is the largest manufacturer of riding breeches and
jodhpurs in the world.
Led by Sigma®, TuffRider®, Jaipur Polo Company™,
Platinum™,
Cotton Naturals* and a host of other well-known brands, JPC clothes are sold in
the millions by an international network of retailers in over 50 countries.
Vertically integrated, JPC offers quality products, on-time delivery and
innovative fabrics. Our complete, in-house manufacturing facility includes yarn
preparation, knitting, weaving, dyeing, elasticated waistband production,
computerized embroidery, garment making and packaging, giving us the
flexibility to offer customized styles for every market
AS
PER WEBSITE:
In 1992 an enthusia
stic horseman decided to do
something about
expensive synthetic
equestrian clothing which damaged not just the pocket but the skin and
environment as well. The time, he realised, was right for apparel which was
comfortable, durable, affordable and stylish and made ecological sense.
This idea led to JPC — the
one stop name for quality riding wear at affordable prices. Today, JPC is
the largest manufacturer of riding breeches and jodhpurs in the world.
Led by TuffRider®, Jaipur Polo Company™,
Cotton Naturals* and a host of other well-known brands, JPC clothes are sold in
the millions by an international network of retailers in over 50 countries.
Vertically integrated, JPC offers quality products, on-time delivery and
innovative fabrics. Our complete, in-house manufacturing facility includes yarn
preparation, knitting, weaving, dyeing, elasticated waistband production,
computerized embroidery, garment making and packaging, giving us the
flexibility to offer customized styles for every market.
At JPC, we create clothes that combine fun, fashion and function at great value
for the rider.
*mark owned
outside the USA
Quality
Policy
To be
a customer-driven organization, through technical innovation, quality conscious
staff, with an objective of zero defect production.
We commit ourselves at all levels of the organization to a quality system that
ensures continuous improvement.
©2001, JPC, C-100, Sector 2, NOIDA 201301, UP, India.
Phones: +91 120 2530172, +91 120 2553794 Fax: +91 120 2555180
Email webmaster@jpc-india.com
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the
subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.
8] Affiliation
with Government :
No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.
9] Compensation
Package :
Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on the subject.
CORPORATE
GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.07 |
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UK
Pound |
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.57.45 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
48 |
This score
serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |